Ripple returns all XRP funds from Escrow only a few days after unlocking. The entire 1B XRP was moved through wallets for a few days without selling or distribution as reported in the previous Ripple XRP news.
The recent whale transaction tracking noted that the recent Ripple escrow arrived at the start of the new month and the usual 1B XRP released was later returned in large tranches. The transfers were completed in only three transactions and the largest one of 500 million XRP. The previous escrow unlocking about 400,000 XRP remained in outside wallets to be distributed or sold and this time Ripple returns the funds after facing doubts about the intentions to sell the coins mainly as the price continued to slump.
XRP moved down as low as $0.21 during the recent sell-off and is once again at the $0.219 level. At this point, the XRP loss for most of 2019 is once again getting close to 30% with only outlandish hopes for an eventual increase. The readiness of Ripple to hold onto the assets could even spike the hopes of future development and the current usage of XRP is an option on the RippleNet decentralized protocol. The transactions on the network also showed a lot of increase during October and November rising to millions per day.
Right now, it is uncertain what the source of the transaction is but there are a lot of records of significant transfers of value through Ripple’s protocol and the transactions are only a part of the mix. The recent return of the entire escrow was seen as extremely bullish limiting the free supply of XRP. However, XRP also enjoyed a collection of staunch supporters that look at the asset rising based on Ripple network usage and future adoption but the rise is not immediate and some of the XRP are undervalued and the low prices are a buying opportunity.
XRP managed to pass the short-term rallied and the overall trend remains downward and as December started in 2018 so XRP traded at $0.35 and moved closer to $0.30 for most of the months except for the rally mid-year. XRP is now getting into an extended slide closer to the $0.20 range.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
DC Forecasts - Newsletter and get recent news directly to your inbox! Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
Daily Newsletter Bitcoin NewsAltcoin NewsLitecoin NewsEthereum NewsBlockchain NewsBitcoin ScamsRegulationExpert AnalysisPress ReleasesCardano NewsRipple NewsLibra NewsBitcoin Cash NewsTron NewsNexo NewsVechain NewsStellar NewsTezos NewsBinance Coin NewsCoinbase NewsChainLink NewsEOS NewsIOTA NewsTether NewsBitcoin SV NewsMonero NewsEthereum Classic NewsDash NewsUNUS NewsCosmos NewsMECX Token NewsNEO NewsDC Forecasts Announcements
DC Forecasts provides a comprehensive source of the latest news about cryptocurrency news daily. Read more on our about us page for details.